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MXC Capital

  • BY: Andrew Hore |
  • POSTED: 13/08/2014 |

Technology company adviser and investment company MXC Capital started trading at a significant premium following the completion of the reversal into shell Broca.

Broca was previously known as 2ergo prior to the disposal of the loss-making mobile coupon and loyalty business to Eagle Eye Solutions in a £4.5m cash and shares deal that was part of the buyer’s flotation on AIM. Broca had £2.9m in cash after the deal and the 1.22 million Eagle Eye shares are valued at £1.83m at 150p a share.

MXC was acquired from MXC Holdings for £6m in shares at 1p each and a further £8.5m has been raised at the same price. The shares began trading at 1.88p each, which values MXC at £34.8m. MXC Holdings owns 51.55% of the enlarged share capital and it will provide consultancy and office services to MXC for £250,000 a year.

MXC is a FCA-registered corporate adviser to technology companies and the strategy is to generate adviser fees and take investments in turnaround and buy and build situations. 

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFAugust2014_59.pdf

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